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Monthly Net Worth Update – March 2010
While last month’s net worth dropped quite a bit (almost 8%), this month’s included a surprise bump. We’re not exactly back to where we were in January, but we are much, much closer than last month.
Our assets increased almost 3%
Somewhat surprisingly, our assets actually increased this month. That increase was driven almost entirely by the stock market. The market’s bump after last month provided my net worth with a bump as well. Our mutual fund and stock accounts increased more than 10% while my stock options were up 15%.
Not surprisingly, our cash accounts dropped quite a bit (more than 6%). My wife did not work the entire month of February and it took a bit of a toll on those accounts. This will probably continue for at least the next month as she is still not working and we have started to pay the doctor and hospital bills for our daughter’s birth. We also were slow to adjusting our budget to our new lower income, so that hurt us as well. This month I’ll receive my small yearly bonus, a small federal tax return, and a sizable state tax return (I’ve played with the state withholding and it seems almost impossible to significantly drop that refund). All that will hopefully add up to a less precipitous cash drop this month.
Our liabilities decreased 0.12%
Our mortgage dropped the standard 0.12% again this month. Last month I mentioned my frustration at the small decrease in mortgage principal we experience each month. After doing my taxes and calculating how much interest we’ve paid over the past four years and contrasting that with how little the principle has decreased, it is beyond frustrating and almost to the point of painful. I almost feel like I want to just sell the house and start all over with something that I can pay less on and pay for only 15 years. My wife and I have started playing with a bunch of scenarios, mostly crazy ones, but I haven’t done any hard analysis to decide what is best at this point.
Our net worth increased almost 6%!
After the 8% drop last month, I was quite happy to see a 6% increase this month. As I mentioned, we’re not back up to the high-water mark we experienced in January, but we are closing in on it. We are, however, now in the thick of a period of financial uncertainty marked by less income and some large expenses. Frankly, this comes at about the best time of year for us with my bonus and tax returns. God’s timing? I’m really trying to focus on God and rely on Him and not worry about the financial stuff. So far so good – though He is doing a better job of meeting our needs than I am of relying solely on Him.
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